SushiSwap: Router processor bug causes loss of millions, details inside
On 9 April, numerous reports surfaced about a bug in a SushiSwap [SUSHI] feature that had already caused the loss of millions of dollars. Jared Gray, the CEO of SushiSwap, later verified the report and outlined the necessary measures to rectify the situation.
<p lang=«en» dir=«ltr» xml:lang=«en»>Sushi's RouteProcessor2 contract has an approval bug; please revoke approval ASAP. We're working with security teams to mitigate the issue. https://t.co/WhXJfa5xD4— Jared Grey (@jaredgrey) April 9, 2023
Read SushiSwap’s [SUSHI] Price Prediction 2023-24
On 9 April, Certik Alert and Peckshield posted about a concerning bug related to the approve function in the SushiSwap Router Processor 2 contracts. They revealed that the bug had caused a loss of more than $3 million within a few hours.
<p lang=«en» dir=«ltr» xml:lang=«en»>Use the following to revoke your token approvals:ETH: https://t.co/6312VOmj72 BSC: https://t.co/E9LxR7Nfe6 POLY: https://t.co/Kl8TgmhjlJ AVAX: https://t.co/7knpsOZcPf FTM: https://t.co/EYFHeViw9c
— CertiK Alert (@CertiKAlert) April 9, 2023
Additionally, there were reports that malicious MEV bots had utilized the contracts and replicated the attacks. Responding promptly to the issue, SushiSwap CEO Jared Gray confirmed the bug’s existence and instructed that all approvals be revoked.
The SushiSwap Router Processor is a smart contract powered by the Ethereum [ETH] blockchain. It is a decentralized exchange (DEX) router for SushiSwap. Its primary role is to identify the optimal method for swapping one type of cryptocurrency for another. It accomplishes this by directing trades through a series of liquidity pools to achieve the most favorable price for the transaction.
DefiLlama provided further insight into the bug,
Read more on ambcrypto.com
